According to a May 3rd, 2012 CNNMoney article, http://money.cnn.com/2012/05/03/real_estate/home-buying/?source=linkedin things are looking up for real estate and expected to get even better into 2013!
The article, "Buying a Home Won't Get Much Cheaper," cites jobs growth, low mortgage rates and the falling number of distressed sales as key factors to an improved real estate market outlook.
While buyers are anxious to get into the market, inventory levels in many cities are well below normal making it feel more like a seller's market than a buyer's market. Buyers are advised to continue looking if they are ready to purchase, but it may take longer than anticipated to find their dream home. Price gains are expected to be modest in most markets, according to the experts, but along with modest price gains there are likely to be modest gains in interest rates.
Thinking of buying? Don't think on it too long!